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Japan/Indonesia: Japan, Indonesia ink pact to double currency swap deal.
Section: Business News - Japan and Indonesia have officially signed an accord to double their bilateral currency swap scheme from 6 billion USD to 12 billion USD to help the Southeast Asian country better prepare for short-term liquidity problems amid the global financial crisis.
The Bank of Japan, which acts as the agent for the finance minister, and Bank Indonesia sealed the pact under the so-called Chiang Mai Initiative, a web of bilateral currency swap deals launched in the region in 2000, the Kyodo News cited the Finance Ministry sources as saying on Apr. 6.
The agreement will enable Indonesia to swap …
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